IAU closed at $36.94 after gaining 0.52% yesterday

Published: January 26 2023, 01:45 GMT+0

IAU closed at $36.94 after gaining 0.52% yesterday

Yesterday at a glance: after ending Tuesday at $36.75, iShares Gold Trust went up to $36.95 only to drop back, yet still traded well overall and closed at $36.94 yesterday.

On the flip side, Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

At the same time, United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

Other markets are also showing gains as notably, AT&T rose 6.58% yesterday and closed at $19.16.

Meanwhile, NextEra Energy is down to $76.59, losing $7.31, after ending the previous session around $83.9. After ending yesterday's session at $71.44, HDFC Bank Limited lost $4.51 and is trading around $66.93.

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Furthermore, the market is looking at United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was 0.1%, data will be available today at 13:30 UTC.

Also worthy of note, United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

The fund has been trending positively for about 3 months. This year has been a bright one for iShares Gold Trust after trading as low as $30.82 and going on to appreciate by 5.36% year to date.

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